Hydrogen Generation Market: Outlook
Decarbonization of industries is seen to be an important aspect to reduce hazardous harm to the environment caused by industrial pollution. This can be achieved through the utilization of hydrogen as an energy generator. Therefore, this aspect may help the global hydrogen generation market to gain immense growth across the forecast period of 2020-2030.
Other factors having a major hand in expanding the growth prospects of the hydrogen generation market are the necessity of hydrogen in the transportation sector and the desulfurization of refinery activities. All these factors assure promising growth for the hydrogen generation market through the forecast period. The prominent processes of hydrogen generation are electrolysis and steam reforming.
This hydrogen generation market report has detailed information on diverse factors associated with bringing growth. Prominent factors such as emerging trends, mergers and acquisitions, and the geographical prospects of the hydrogen generation market have been studied in the report. The stakeholders can benefit greatly from this report. This report also includes information on the COVID-19 impact on the hydrogen generation market.
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Hydrogen Generation Market: Competitive Prospects
Players in the hydrogen generation market prepare their business strategy on the grounds of the current market scenario. Global players tie-up with local players to establish influence on the domestic market. New hydrogen generation systems that avoid carbon emissions are being focused upon by the manufacturers in the hydrogen generation market as such systems are trending nowadays.
Large-scale investments in research and development activities also lead to discoveries that invite immense growth prospects for the hydrogen generation market. Mergers, acquisitions, and partnerships are also a prominent part of the growth-generation mechanism. For instance, Bayotech recently announced a partnership with Ariel Re to develop a performance risk solution that guarantees the uptime and output of Bayotech’s hydrogen generators. Such developments assure good growth opportunities.
Some well-established players in the hydrogen generation market are Iwatani, Ally Hi-Tech, Erredue, Nuvera Fuel Cells, Teledyne Energy Systems, Plug Power, FuelCell Energy, Hydrogenics, Air Liquide, Linde, Air Products and Chemicals, Ballard Power Systems, Caloric, HyGear, and Showa Denko.
Hydrogen Generation Market: Green Hydrogen Generation to Create Good Growth Prospects
Green hydrogen generation has become one of the most sought-after methods for supporting environmental conservation. According to research, green hydrogen industry could generate €320 bn for the UK economy by 2050. These figures describe the burgeoning prospects of green hydrogen generation.
Many green hydrogen facilities are developed across the globe. Some of the recent developments regarding green hydrogen facilities are as follows:
- Infinite Blue Energy Group has decided to start its initial phase one work for Australia’s first 100 percent green hydrogen plant, which is projected to produce 25 tons of green hydrogen per day using wind and solar energy.
- Halcyon Power, a joint venture between Japan’s Obayashi Corporation and Tuaropaki Trust has announced to develop New Zealand’s first carbon-free hydrogen production facility
- Mitsubishi Power recently launched the world’s first standard packages for green hydrogen integration
- Siemens Energy launches its first green hydrogen production project in China at Yanqing District, Beijing
While these developments indicate the growing influence of green hydrogen generation, the high cost of these installations may hinder the growth of the hydrogen generation market to a certain extent. Nevertheless, manufacturers in the hydrogen generation market are trying to develop cost-effective systems.
Hydrogen Generation Market: Regional Prospects
Asia Pacific may garner extensive growth opportunities for the hydrogen generation market during the forecast period. The increasing presence of refinery industries across various countries may prove to be a prominent growth aspect.
Europe may also gain substantial growth. Government support could prove to be a major growth generator. France has planned a €7 bn hydrogen strategy that has a target of generating hydrogen from 6.5 GW of ‘carbon-free’ sources by 2030.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.